Topic 2 Test Review

What are the three economic questions?

• What to produce? How to produce? For whom to produce?
• Who to produce? Why you produce? Like to produce?
• Why to produce? Tell who to produce? Things to produce?

What can the three basic economic questions determine?

• What kind of government a country has.
• What kind of economic system a country has.
• Whether or not most people live in poverty.

True or False: The basic questions of economics differ based on each economic system.

• True
• False
• Not enough info

True or False: Only some countries pay attention to the three basic questions of economics.

• True
• False

Traditional economies depend on agriculture, fishing, hunting and gathering

• False

• True

Most traditional economies can be found in....

• Developed countries

• Developing countries

New technology is always welcomed in traditional economies?

• true

• false

self-sufficiency farming in which the farmers focus on growing enough food to feed themselves and their families.

• Command Agriculture

• Cottage Agriculture

• Market Agriculture

• Subsistence Agriculture

Traditional economic systems are closely tied to....

• customs and practices handed down by generations to the next

• money handed down by generations to the next

• technology advancement handed down by generations to the next

• Luke Combs, Luke is always the answer

Indigenous peoples culture are an example of traditional economies?

• true

• false